How Many Bitcoins Are Left?

Bitcoin has grown in popularity over the past decade, becoming one of the fastest-growing assets in the world. Much like gold with its own limited supply, there will only ever be 21 million bitcoins created.

However, not all of these bitcoins are currently in circulation. Approximately every four years, an event called the "halving" reduces the rate at which new bitcoins are created. This unique approach to supply raises an intriguing question: How many bitcoins are left?

As of this writing, there are approximately 19,804,175 bitcoins that have been mined, leaving around 1,195,825 more to be added into circulation. The journey towards the final bitcoin is structured through mining, a technical process that will conclude around the year 2140. This slow and steady approach ensures that Bitcoin remains a valuable asset over the years, similar to a digital form of gold.

The Process of Bitcoin Mining

Bitcoin mining is the mechanism through which new bitcoins are introduced into circulation and involves solving complex mathematical problems to verify transactions on the network. This process is called Proof of Work (PoW), carried out by miners using powerful computers to ensure the security and integrity of the Bitcoin blockchain. Every time a miner successfully adds a new block to the blockchain, they are rewarded with bitcoins.

Currently, approximately 450 new bitcoins are created every day. As the next halving approaches, this number will decrease to about 225 bitcoins per day, which further slows the rate of new bitcoin creation. This reward halves approximately every four years in an event known as "halving," which gradually reduces the rate at which new bitcoins are created and released into the ecosystem. The halving not only decreases the number of new bitcoins entering the market but also tends to drive up the price due to reduced supply pressure. Historically, these events have led to increased public interest and significant market activity, reflecting the community's anticipation of potential price increases.

Future of Bitcoin Mining and the Network

As we approach the cap of 21 million bitcoins, the role and incentives of miners are set to evolve. Once all bitcoins have been mined, miners will no longer receive block rewards. Instead, their compensation will shift entirely to transaction fees. These fees will need to provide sufficient incentive for miners to continue verifying transactions and securing the Bitcoin network. The sustainability of mining activities will depend on the network's transaction volume and the fees associated with these transactions.

Currently, with around 1,195,825 bitcoins yet to be mined, the future of Bitcoin continues to spark interest and speculation. For those looking to participate in the crypto space, platforms like iTrustCapital offer the opportunity to buy and sell Bitcoin within a tax-advantaged IRA.

Want to learn why investors are opening a Crypto IRA? Check out the article below!

Top 5 reasons to open a Crypto IRA at iTrustCapital

DISCLAIMER

This article is for information purposes only. It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.

iTrustCapital is a cryptocurrency IRA software platform. It is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not associated with and has no direct relationship with Bitcoin. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.

Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.

Some taxes and conditions may apply depending on the type of IRA account. Investors assume the risk of all purchase and sale decisions. iTrustCapital makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrustCapital does not provide legal, investment or tax advice. Consult a qualified legal, investment, or tax professional.

iTrustCapital makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) or omissions from the information contained herein. iTrustCapital disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.